ICICI Lombard Bike Insurance

ICICI Lombard bike insurance provides financial coverage for all types of two-wheelers, including motorcycles and scooters, against accidents, theft, third-party liabilities, etc. Its vast network of cashless garages and quick claim settlement process ensures riders' peace of mind. Moreover, as a bike owner, you can customize the plans to cater to diverse needs, making it a trusted choice.

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ICICI Lombard Bike Insurance Policy - Key Features

The following table includes the key features of the ICICI Lombard bike insurance policy:

Categories Specifications
Two Wheeler Network Garages 6200+
Claim Settlement Ratio (CSR) 87.84%
Customer Assistance Available 24x7
Personal Accident Cover (PA Cover) Up to ₹ 15 Lakh

Why Choose ICICI Lombard Bike Insurance Policy?

ICICI Lombard General Insurance offers attractive affordable bike insurance plans with additional benefits, which are as follows:

  • ICICI Lombard bike insurance policy offers coverage for the damages or losses caused to your bike in an accident, theft, natural calamities, man-made disasters, third-party liabilities, etc.
  • There is a facility for cashless claim settlement at 6,200+ cashless garages across the country, where customers can get hassle-free repair services without paying any cash.
  • The company offers instant claim approval with dedicated 24x7-customer support via calls and chat.
  • The company offers two-wheeler insurance policies through a 100% digital claim inspection and settlement process.

ICICI Bike Insurance Policy Inclusions

The ICICI Lombard bike insurance policy provides coverage against the following instances:

  • Any loss caused to the bike due to calamities that are acts of nature, such as self-ignition or lightning, fire, explosion, earthquake, typhoon, flood, hurricane, inundation, cyclone, storm, tempest, hailstorm, landslide, etc.
  • Any man-made activity that causes loss, such as burglary, theft, malicious act, riot, strike, terrorist activity, or damage to a two-wheeler while in transit by road, rail, elevator, inland waterway, lift, or air.
  • Up to ₹ 15 lakh of mandatory Personal Accident Cover is provided to the owner of the bike, travelling, dismounting, or mounting the bike.
  • A legal liability covers any harm to the third party or any property.

ICICI Bike Insurance Policy Exclusions

The ICICI 2-wheeler insurance policy doesn't provide any coverage or compensation for the following instances:

  • Any wear and tear or ageing due to regular bike usage.
  • If the bike faces a mechanical or an electrical breakdown.
  • Any damage incurred if the person driving the motorcycle is under the influence of liquor or any other intoxicated substance.
  • Damages or loss sustained in the bike by a person driving without holding a valid driving license, registration certificate, or bike insurance policy.
  • Damages or loss suffered due to war, nuclear risk, or mutiny.
  • Wear and tear of consumables like tyres and tubes unless the damage is damaged at the same time, in which case the company shall be liable to pay only 50% of the cost of replacement of such consumables.

IDV in ICICI Bike Insurance Policy

  • The ICICI Lombard bike insurance plan offers coverage at a fixed value called the Insured's Declared Value (IDV).
  • IDV is calculated by adding the value of the manufacturer's listed selling price of the two-wheeler to the listed price of accessories (if any) and subtracting the depreciation per year as applicable according to the Indian Motor Tariff.
  • The price of any electrical or electronic item installed in the bike is excluded from the manufacturer's listed selling price. In that case, the item's value after depreciation can be added to the sum insured amount above the calculated IDV.

How to Claim ICICI Bike Insurance?

If you choose a cashless claim settlement service, you can repair your bike at any network garage. However, in case of repairs undertaken at garages non-network garage, then the policyholder can apply for a reimbursement claim process.

To apply for a claim with the company, you must register the claim with the insurance provider. The claim in case of an accident can be made by following the below-mentioned steps:

  • Step 1: If you purchased your ICICI bike insurance policy from Policybazaar.com, you can connect by calling and informing them about the accident.
  • Step 2: The insurance provider will appoint a surveyor to conduct an assessment for calculating the damages.
  • Step 3: Download, fill in, sign the claim form and submit it with the mandatory documents.
  • Step 4: The insurance provider will approve the claim repair request after verifying the documents.
  • Step 5: Send the bike to the nearest cashless garage or any other garage, depending on the type of claim process service you have chosen.
  • Step 6: The insurance provider will settle the repair bills directly with the network garage for cashless repair services.

For reimbursement services, you have to pay the repair charges to a non-network garage. Later, the insurance company will reimburse the amount directly to your bank account.

Documents Required for Filing ICICI Bike Insurance Claims

The ICICI Lombard General Insurance Company requires specific documents to settle a bike insurance claim. The documents required differ depending upon the type of the claim. Here is a list of documents needed for different situations:

  1. In Case of an Accident

    • A claim form duly filled and signed by the policyholder
    • Electronic payment form, if applicable
    • RC copy of the bike
    • DL copy of the policyholder
    • Comprehensive bike insurance policy
    • First Information Report (FIR), if applicable
    • An Original estimate repair bill slip
    • Payment receipt and original repair invoice
    • In the case of a company-registered vehicle, a stamp is required
  2. In Case of Theft

    • A claim form duly filled and signed by the policyholder
    • RC copy of the bike
    • DL copy of the policyholder
    • Comprehensive bike insurance policy
    • First Information Report (FIR)
    • RTO transfer papers along with Form 28 (3 copies), 29 (2 copies), 30 and Form 35 (in cases of hypothecated bikes)
    • A no-trace report was issued by the police, claiming that the bike was nowhere to be found
    • In the case of a company-registered vehicle, a stamp is required
  3. In Case of a Third-party Claim

    • A claim form duly filled and signed by the policyholder
    • RC copy of the bike
    • DL copy of the policyholder
    • Third-party bike insurance policy
    • First Information Report (FIR)

ICICI Lombard Two Wheeler Insurance - FAQs

  • Q. How do I pay a ICICI bike insurance premium?

    Ans: You can pay the ICICI bike insurance premium via 2 modes
    • Cash/cheque payment at the branch
    • Online Payment

    For the online payment mode, you can pay via:

    • Credit Card
    • Debit Card
    • Net banking
  • Q. How can I check ICICI Lombard's two-wheeler insurance policy status?

    Ans: Use the ICICI Lombard Online Manager to check the policy status and make payments online. Log in with your existing ICICI Lombard User ID and password, or register at the portal if you don't have one.
  • Q. What is the ICICI Lombard two-wheeler insurance policy renewal process?

    Ans:

    You can renew your ICICI bike insurance policy at Policybazaar.com by following the steps:

    • Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited.
    • Step 2: Click on the 'Two Wheeler Renewal' tab in the 'Renew Your Policy' drop-down menu.
    • Step 3: Enter your bike insurance and click 'View Prices'.
    • Step 4: Compare and choose a bike insurance plan depending on your budget requirements.
    • Step 5: Select the premium payment option: UPI, Debit/Credit Card, or Net Banking.
    • Step 6: Print/save the policy sent to your registered email ID.
  • Q. How can you claim ICICI bike insurance online?

    Ans: You need to call the company's toll-free number and register the claim. In 24 hours, the customer service manager will contact you and ask you for certain documents. In the case of cashless repairs, the payment is directly made to the network garage, and in the case of reimbursement repairs, you will receive the repair bill amount from your registered bank.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 27 Reviews)

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ICICI Lombard Two Wheeler Insurance Reviews & Ratings

4.3 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Jayant
Faridabad, July 25, 2016
Nice Policy
I purchase a new bike and for that i buy a icici two wheeler insurance plan. The insurance is very nice and easy to renew on website portal. The tow service is free of cost. Garages are many and service is fantastic. Except tires and fiber parts the whole bike is secure.
Manoj
Patoda, July 08, 2016
Two Wheeler Insurance
The two wheeler insurance policy of my vehicle is fantastic. It has low premiums and the returns are high. The tow facility is free, and provided at any location. Service is awesome and good work done by members of the company. Online service is easy to use.
Gautam
Bhopal, June 25, 2016
Good Work
My two wheeler insurance plan is good and it come's in low premium. The policy has secure my whole vehicle except tires and fiber parts. Policy claims are high and easy to sanction due to fast service facilitate by the executives. Tow service is at any location but it may charge for that.
Sunil
Korba, June 05, 2016
bike insurance
Plz help me
Amrit
Delhi, May 21, 2016
cashless compersive two wheeler policy
I need cash less policy for my two wheeler
Amar
Bangalore, May 20, 2016
Insurances
Need to renewal two wheeler insurance
Zara
Bangalore, April 29, 2016
Best Services
premium is high but services matter. And better IDV compare to competitors. It was ease to pay online
Kshitij
Panipat, March 15, 2016
Marvelous
ICICI Lombard General Insurance is the finest insurer that's why i buy the two wheeler insurance policy plan from them. The policy coverage is high and the claims are even better. Whole bike is insure in the policy and the claiming amount is about one lakh forty thousand rupees. Good number of garages are providing service to the customers for better and fast recovery.
Arindam
Meerut, March 15, 2016
"Damn Good"
I have insurance for my two wheeler with icici lombard general insurance. Policy coverage is good but the premiums are little bit high. Claims are high and the amount is approx. Rs.1 L. Large number of garages are providing fast services and the recovery is so quick no long waiting.
Kumar
Chattarpur, March 15, 2016
Excellent Policy
Great two wheeler insurance policy plan which i buy from icici lombard general insurance. Large amount of garages are present in the city for on time service. Policy provide good claims which includes whole vehicle recovery. Service is the best provided by the executives and the staff members.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis